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Higher Dividends and Buyback Ahead: Xerox CEO

More acquisitions, higher dividends and a stock buyback are in the works for Xerox, its chief executive and president, Ursula Burns, told CNBC Tuesday.

The copier giant , which bought ACS (Affiliated Computer Services) for $6.4 billion this year, is committed to paying down the debt associated with that acquisition, said Burns.

Xerox Corporation, Norwalk, CT
Source: Xerox.com
Xerox Corporation, Norwalk, CT

The CEO expects a short-term growth of 3 percent to 5 percent and a long-term growth of 6 percent to 8 percent.

“Our second quarter was promising,” said Burns. “It was a ‘step-out’ quarter,” in which the company sold lots of smaller devices and color copiers.

Burns said the company would be focusing on “low-hanging fruit,” in that it is putting extra effort into selling to Europe and the developing world, in areas where the company’s services haven’t been introduced. She also said the company will be upping its efforts to sell more color products by offering customers affordable solutions.

"Last time I looked," she added, "the world was in color."